MANILA (AFP) -- The Philippines is studying a compromise deal with the family of Ferdinand Marcos to recover billions of dollars in assets allegedly stolen during his 20-year regime, President Gloria Arroyo's spokesman said Monday.

Some estimates have put the Marcos wealth at least 10 billion dollars and the assets are believed scattered in banks in the United States, Switzerland and Liechtenstein under names of dummy foundations.

So far only 690 million dollars have been recovered and turned over by Swiss banks to the Philippine government.

"It may be time for us to consider a compromise as a solution to these decades-old cases," Ignacio Bunye said. "While only prosecution and actual punishment may satisfy some of our people, we must also be realistic and acknowledge that too much time has already passed without yet reaching a solution."

Marcos was ousted by a "people power" revolt in 1986, and forced to live in exile in Hawaii until his death in 1989. His flamboyant widow, Imelda Marcos, and his children were allowed to return home where they have retained some political influence.

Imelda Marcos still faces numerous graft cases in local courts, but neither she nor the couple's cronies who benefited during the dictatorship have been jailed. Bunye said that discussions on the possible compromise were ongoing and said that anything was "speculative at this point."

"It will be the courts that shall be the final arbiter on this matter," he said. However, he stressed that a compromise "may allow us to close this chapter in our history and enable us to learn from and rise above the mistakes of the past."